CIBC Asset Management Inc Sells 23,751 Shares of Danaher Corporation $DHR

CIBC Asset Management Inc reduced its holdings in shares of Danaher Corporation (NYSE:DHR) by 9.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 239,898 shares of the conglomerate’s stock after selling 23,751 shares during the period. CIBC Asset Management Inc’s holdings in Danaher were worth $54,848,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bank Pictet & Cie Europe AG increased its holdings in shares of Danaher by 25.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 366,481 shares of the conglomerate’s stock valued at $83,895,000 after acquiring an additional 74,301 shares during the period. Johnson Investment Counsel Inc. increased its holdings in shares of Danaher by 2.9% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 664,705 shares of the conglomerate’s stock valued at $131,784,000 after acquiring an additional 18,744 shares during the period. Guinness Asset Management LTD increased its holdings in shares of Danaher by 13.7% in the 3rd quarter. Guinness Asset Management LTD now owns 223,570 shares of the conglomerate’s stock valued at $41,597,000 after acquiring an additional 26,896 shares during the period. Maxi Investments CY Ltd purchased a new position in shares of Danaher in the 3rd quarter valued at $3,251,000. Finally, Defender Capital LLC. purchased a new position in shares of Danaher in the 4th quarter valued at $35,715,000. 79.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on DHR shares. HSBC cut their price target on Danaher from $270.00 to $230.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird cut their price target on Danaher from $251.00 to $249.00 and set an “outperform” rating on the stock in a report on Friday, April 17th. Guggenheim cut their price target on Danaher from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. UBS Group cut their price target on Danaher from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Wednesday, April 22nd. Finally, The Goldman Sachs Group cut their price target on Danaher from $265.00 to $230.00 and set a “buy” rating on the stock in a report on Monday, April 13th. Twenty analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.14.

Danaher Stock Performance

Shares of DHR opened at $178.40 on Thursday. The stock has a 50-day moving average of $181.40 and a two-hundred day moving average of $206.59. Danaher Corporation has a one year low of $160.93 and a one year high of $242.80. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.52 and a current ratio of 1.87. The stock has a market cap of $126.26 billion, a P/E ratio of 34.51, a P/E/G ratio of 2.35 and a beta of 0.81.

Danaher (NYSE:DHR) last issued its quarterly earnings results on Monday, April 20th. The conglomerate reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.12. Danaher had a return on equity of 10.91% and a net margin of 14.89%.The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $6 billion. During the same quarter in the previous year, the firm posted $1.88 EPS. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, research analysts predict that Danaher Corporation will post 8.43 EPS for the current year.

Danaher Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, June 26th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $1.60 dividend on an annualized basis and a yield of 0.9%. Danaher’s payout ratio is currently 30.95%.

About Danaher

Danaher Corporation (NYSE: DHR) is a global science and technology company that designs, manufactures and markets products and services for the life sciences, diagnostics, and environmental and applied markets. The company organizes its operations into business segments focused on Life Sciences, Diagnostics, and Environmental & Applied Solutions, supplying instruments, reagents, software and related services that support research, clinical testing, biopharmaceutical development, and industrial and environmental monitoring.

Products and services in Danaher’s portfolio include analytical and diagnostic instruments, laboratory consumables and reagents, digital and software solutions for workflow and data management, field and industrial monitoring equipment, and service and maintenance programs.